Max Life Insurance enters pension fund administration enterprise

NEW DELHI: Max Life Pension Fund Management Limited, a wholly-owned subsidiary of Max Life Insurance Company, will handle pension belongings with funding selections underneath the National Pension Scheme (NPS). The pension fund has obtained the Commencement of Business (COB) certificates for this.

Max Life Pension Fund will handle pension belongings for personal and authorities sector subscribers excluding the “default scheme”, with an purpose to scale up belongings underneath administration (AUM) to an estimated ₹1 trillion over the following 10 years.

The firm and the pension fund will now cater to all product classes together with pension merchandise, annuities, and pension fund administration to assist clients plan their retirement. It can also be within the means of making use of for some extent of presence registration to Pension Fund Regulatory and Development Authority (PFRDA) to supply companies that may assist subscribers open new NPS accounts.

Prashant Tripathy, MD & CEO, Max Life, stated, “Max Life Pension Fund Management Limited strengthens our presence within the retirement section. We are dedicated in the direction of financially defending Indians of their golden years. We will leverage our aggressive fund administration capabilities and the distribution energy of Max Life, together with our company enterprise groups, particular person advisors, and our direct gross sales groups, to unfold consciousness about NPS and drive worth for our clients. “

Establishing the pension fund administration subsidiary is a essential lever of Max Life’s progress technique of turning into a dominant participant within the retirement area. The pension fund goals to maximise risk-adjusted returns for its subscribers on a constant and long-term foundation whereas adhering to PFRDA tips. The Company’s funding selections will draw from the experience of the extremely completed management and can concentrate on worthwhile funding technique and fund administration capabilities to create enticing funding returns for its subscribers whereas adhering to the regulatory limits as prescribed by the PFRDA.

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